Citigroup's Alexander says market sell-off was overdue

SarahTurner

LONDON (MarketWatch) -- Lewis Alexander, chief economist for Citigroup, said on a conference call that in many respects the recent market sell off was overdue. He said that a number of factor came together to prompt the downward move. These included that fact that markets have done very well over extended period, that there's an uptick in concerns about inflation potentially moving higher and that there's a sense monetary policy had become less predictable. "Markets are going to take some time before they really settle down (but) I think this is a normal market correction," added Lewis.

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